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MyPayrollHR Founder Faces $70M Fraud Charge

PYMNTS

20), Mann began borrowing “large sums of money” starting around 2010. Mann did not enter a plea and was released on a $200,000 bond secured by his home and two cars. The NYC-based financial technology company DailyPay has created a $25,000 fund to pay for overdraft and/or late fees for MyPayrollHR employees, up to $100 per employee.

Fraud 133
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Phillips 66 Partners With WEX For Exclusive Multi-Year Private Label Extension 

PYMNTS

WEX and Phillips 66 have partnered since 2010, the release said, to develop a sales and marketing program that depends on new payment technologies for fleet customers. WEX focuses on delivering financial technology services across multiple industries including fleet, travel and healthcare.

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FinTech Firms On The New FinTech Charter

PYMNTS

Office of the Comptroller of the Currency (OCC) to allow FinTech companies to operate in all states, according to the same standards as banks — a move that would require the office to issue special charters to those younger payment and financial technology firms. Additionally, the report calls upon the U.S.

Fintech 115
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LendingClub Settles With SEC, DOJ

PYMNTS

Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), its founder and former CEO Renaud Laplanche and its former CFO Carrie Dolan. In 2010, LendingClub added to its war chest with a $24.5 On Friday (Sept.

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Fighting Digital with Digital

Independent Banker

The quickness with which these Wall Street-driven nonbank lenders—variously called peer-to-peer, online marketplace or financial technology (FinTech) lenders—can fulfill borrowers’ requests has enabled alternative lending to double every year since 2010.

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Analyzing The Private Market Investment Strategies of P&C Insurers

CB Insights

And most recently, Allianz made a strategic investment in US online homeowners and renters insurance carrier Lemonade , which currently operates in New York, Illinois, and California. Five years after launching its online business insurance product in the US in 2010, Hiscox has started making small strategic investments as well.

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Analyzing The Private Market Investment Strategies of P&C Insurers

CB Insights

These include wireless home monitoring startup Notion (XL Innovate, Liberty Mutual Strategic Ventures), on-demand homeshare insurance startup Slice Labs (XL Innovate, Munich Re/HSB Ventures), virtual auto claims operations firm Snapsheet (USAA, Liberty Mutual), and contract-related insurance startup Bunker (American Family Ventures, Hiscox).